The ADA bears are in charge as the cryptocurrency is currently trading approximately 2.5% lower than it was the previous day near the $0.31 per token level, bringing its losses from Monday’s peak near $0.33 to about 6.0%.
This week’s price forecasts have turned less positive. The ADA coin, which drives the Cardano network, is currently only slightly more than 5.0% above the yearly lows it hit in November, or barely under $0.30.
Today’s Cardano Price
| DATE | ADA | USD |
|---|---|---|
| Today | 01 | 0.3114251 |
Cardano Price Prediction
A short-term bullish trend channel that ADA has been trading within for the past few weeks is thought by some specialists to provide support for the stock.
In the event that the next US inflation data surprises to the downside once more, the cryptocurrency may be able to move higher, possibly propelled by macro optimism, and return to monthly highs around $0.33.
However, a breakdown below this short-term uptrend would demonstrate that the ADA bulls are still firmly in control over the long run. In fact, the ADA/USD pair is still firmly contained within the downtrend that has been in effect since mid-August.
A longer-term downturn that has been in effect since the cryptocurrency reached its record highs above $3 in mid-2021 continues to act as a price floor for ADA/USD.
[embedpost slug=”btc-price-prediction-todays-bitcoin-price-9th-dec-2022/”]
